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For the quarter ended Dec 18 net sales of Apcotex Industries stood at Rs 164.13 crore, up by 19% on YoY basis. OPM of the company stood at 10.3% due to higher raw material prices thus resulting in a 2% fall in OP to Rs 16.84 crore. Other income stood at Rs 2.44 crore down by 50% YoY. Interest costs were higher by 39% to Rs 0.57 crore. Depreciation was lower by 3% to Rs 2.95 crore. Thus, PBT for Dec 18 quarter stood at Rs 15.76 crore down by 14% YoY. After providing total tax of Rs 5.78 crore, PAT for Dec 18 quarter stood at Rs 9.98 crore down by 23% YoY.
Performance for 9 months ended Dec 18
Net sales for 9 months ended Dec 18 stood at Rs 473.93 crore up by 22% YoY. OPM of the company stood at 11.3% due to better realization and higher volumes. Thus, the overall OP stood at Rs 53.62 crore up by 32% YoY. Interest cost was higher by 6% to Rs 1.45 crore and depreciation was down by 6% to Rs 8.76 crore. Thus PBT stood at Rs 48.05 crore up by 23% YoY. After providing for total tax of Rs 16.72 crore, up by 41%, PAT for 9 months ended Dec 18 stood at Rs 31.33 crore up by 18%.
Other updates
EBITDA margins were under pressure due to a combination of slowdown in Rubber/Automotive segments and high inventory of imported RMs.
A major export customer's operations were closed down due to fire in April 2018 this continues to affect volumes.
Capex spend from Phase 1 as at December 31, 2018 was Rs 31 crore and the remainder will be spent over the next 6-9 months.
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